Home » Past Questions » Accounts » Use the following to answer the given question:\(\begin{array}{c|c} & ₦ \\ \hline sales & 45,000 \\ \text{Opening stock} & 20,000 \\ \text{Closing sock} & 30,000 \\ Expenses & 15,000 \\ \text{Fixed assets} & 40,000 \\ Debtors & 10,000 \\ Creditors & 5,000 \\ Purchases & 25,000 \end{array}\)Gross profit percentage is...

Use the following to answer the given question:\(\begin{array}{c|c} & ₦ \\ \hline sales & 45,000 \\ \text{Opening stock} & 20,000 \\ \text{Closing sock} & 30,000 \\ Expenses & 15,000 \\ \text{Fixed assets} & 40,000 \\ Debtors & 10,000 \\ Creditors & 5,000 \\ Purchases & 25,000 \end{array}\)Gross profit percentage is...


Question

Use the following to answer the given question:

\(\begin{array}{c|c} & ₦ \\ \hline sales & 45,000 \\ \text{Opening stock} & 20,000 \\ \text{Closing sock} & 30,000 \\ Expenses & 15,000 \\ \text{Fixed assets} & 40,000 \\ Debtors & 10,000 \\ Creditors & 5,000 \\ Purchases & 25,000 \end{array}\)

Gross profit percentage is

Options

A) 100%

B) 67%

C) 50%

D) 33%

E) 22%

The correct answer is B.


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